Legal

Terms and Conditions

Welcome to Crypto Merchant Bank!

We appreciate your choice of using CMB Services.

Please read these Terms and Conditions carefully.

1. Scope

These Terms and Conditions (hereinafter “Terms”) are a legal agreement (hereinafter “Agreement”) between Bon Solutions LP (hereinafter “we”, “us”, or “our”), registered in and the client (hereinafter “you” or “your”), that enables you for that enables you for defined commission to access our services.

You agree that you have read, understood, and accepted these Terms, our Privacy Policy and Cookie Policy, AML/KYC rules and Cardholder agreement by signing up to use an account through cryptomerchantbank.co, any associated websites, APIs, or mobile applications (collectively the “CMB Site”). You also confirm to be obligated by our Legal Terms whenever you access our Website.

This Agreement or our Website content can be revised at our discretion by posting the revised terms on our Website. We have the right to place or not to place notices on our Website when the changes are made.

2. The CMB Services

These Terms and Conditions may change periodically. In case of any changes made by posting the updated Terms and Conditions on our Website you will be notified. Any changes regarding new functions of CMB Services or amendments made for legal reasons are effective immediately. Your use of our Services after the effective date of such changes implies your acceptance of such changes.

CMB Wallet

CMB provides a way to store, use and manage bitcoins, using our Wallet Service. Our Wallet Service may evolve and improve over time. This implies that we may, in our sole discretion, make changes, replace or permanently discontinue our Wallet Services. In this case we will provide you with notice via email or our website.

You can deposit funds to your CMB Wallet with cryptocurrency. Your crypto deposit will be available on your balance after certain confirmations from the Bitcoin network. As soon as it is confirmed, the funding is completed and you are free to make any transactions you want. CMB cannot and does not guarantee any particular value of cryptocurrency. You acknowledge and accept that the value of bitcoins is highly volatile and that selling, buying, and holding crypto involves high risk.

Wallet Address and Private Key

When you register your CMB account, our Services generate and store a cryptographic private and public key pair which you may use to send and receive Bitcoin via the Bitcoin network. The public key generated by the Services serves as your Bitcoin Wallet address, and may be shared with the Bitcoin network and with others to complete Bitcoin transactions. Every time you use your Bitcoin address to make a deposit to your CMB wallet, the system will automatically replace it with a newly generated one to ensure the highest level of privacy and security. The private key uniquely matches the wallet address and must be used in connection with the wallet address to authorize the transfer of bitcoins from or to that wallet address. Your private key will be safely stored with the highest level of security.

CMB Card

The CMB Card allows our clients to make transactions wherever debit cards, issued by the card network shown on the card, are accepted. When you order and activate your CMB Card, the card will be linked directly to your CMB account. In order to make a transaction using CMB Card, you have to sell the needed amount of Bitcoin from your CMB account and load your CMB Card with these funds. These specific CMB Card terms as well as the terms of the card program manager, presented at the time you order your card, apply to the CMB Card.

Custody of Bitcoins

CMB is a custodian of any bitcoins transferred to CMB accounts. CMB does not obtain any legal or beneficial right, title or interest in your bitcoins stored in your account. But unless and until you have verified your identity with CMB and CMB has determined that your use of CMB Services complies with applicable laws, you may be restricted in your ability to use CMB Services.

3. Limited License

A limited, non-exclusive, non-transferable and defeasible license to access and use of our Services via our Website is provided to you under the condition of your direct following our Legal Terms and AML/KYC rules.
We reserve the right to suspend or terminate your access to our Services. In that case the provided license will be automatically cancelled.

4. Copyrights and Trademarks

We possess all rights including all trademark, copyright, patent, trade secrets, designs, logos, URLs and all other intellectual property regarding our Services and all content on our Website.
Other products and company names specified in our Website are the Intellectual Property of their respective owners. Infringe or violation of our rights or any third party’s patent, copyright, trademark, trade secret or other intellectual property rights, as well as rights of publicity or privacy are restricted. Any names and logos associated with Bon Solutions LP may not be used in any way without our prior, written permission.

5. Third Parties and Links to Third-Party Websites

We use the third-party service providers in order to carry out some of our Services. We periodically control the licenses, permissions, and approvals of our third-party service providers.
References to third-party Websites may be posted on our Website. Such references are provided for general information only. We do not control outside Websites and is not responsible for information provided by them.

6. Information and security of the provided information

If you are under 18 years of age you may not use our Services. You may use our Services, only after your authorization. You confirm that information you provide during account creation and any subsequent identification verification is accurate and complete. It is your sole responsibility to update your personal and account information if needed. You are also responsible for all the risks of Internet using while your interaction in our website. You are responsible as well for the security and confidentiality of your authorization information and all the risks related to their loss (theft and/or compromise).
If you are aware that your account information is compromised, please, contact us immediately.

7. Taxation

It is your sole responsibility to report and pay all taxes, levies and/or duties regarding to all payments loaded or withdrawn from your Account.

8. Fees change

The rates and conditions for charging fees for our Services are published in our Website.
We have the right to change the fees rate unilaterally. Any your use of our Services or our Website confirms your acceptance of such changes.

9. Cancellation of the Account

You have the right to cancel your Account by withdrawing your account balances and contacting our support services. You will not be charged for cancellation of your account.

10. Unclaimed property

Acting under applicable law after specified period of your inactivity with respect to your CMB account we may be required to report about your funds as the unclaimed property to the applicable jurisdiction. We may deduct a dormancy fee or other charges from these unclaimed funds, as permitted by applicable law.

11. Prohibited actions

You confirm that you will not execute any illegal, prohibited, abusive, fraud actions or businesses (hereinafter “prohibited actions”) via our Services or take part in any activity that can disserve us. You also confirm that you will not accept payments related to any prohibited actions. If Your activity involves any prohibited actions your account will be temporarily or permanently blocked. If you are unsure whether your activity involves prohibition, please, contact us.

12. No Advice

CMB cannot and does not act as an advisor, including as to any financial, legal, investment, insurance and/or tax matters. Any information provided by CMB is for general comprehension. This information is not guaranteed or represented to be correct, complete or up to date. You are solely responsible for determining whether any contemplated transaction is appropriate for you.

13. Idemnification

You agree to defend, indemnify and hold our employees, agents, consultants, subsidiaries, partners, affiliates, and licensors harmless from and against any and all
claims, losses, costs, judgments, damages, liabilities and expenses (including attorneys’ and other professionals’ fees) arising from or in any way related to your use of our Services and Website, violation of these Terms or any rights of any other person or entity.

14. Circumstances outside our control

We are not liable and/or responsible for any infringement of these Terms by us, or for any losses due to any conditions outside our control. Our service provision may be limited for the period when conditions outside our control take place. We may conduct any activity that is considered to be appropriate if any condition outside our control occurs.

15. Resolution of disputes, Arbitration and Governing Law

All disputes arising from our Legal terms or your use of our Services will try to be settled by negotiations. You confirm that you will inform us no longer than in 30 (thirty) days of the claim arising day. All claims will be reviewed within thirty days of their receipt. If the claims can not be resolved they will be arbitrated.
Arbitration precludes your right of suing in court or having a jury trial. Any arbitration will take place in London, United Kingdom and will be governed by our Legal terms and the laws of England and Scotland. A single arbitrator will perform the confidential arbitration respectively to the rules and laws of England and Scotland.

WHETHER THE DISPUTE IS HEARD IN ARBITRATION OR IN COURT, YOU AND WE WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR REPRESENTATIVE ACTION OR PROCEEDING.

16. Disclaimer

YOUR USE OF OUR SERVICES AND OUR WEBSITE IS AT YOUR OWN RISK. OUR SERVICES ARE PROVIDED ON AN “AS IS” BASIS WITHOUT ANY KIND OF WARRANTIES. WE DISCLAIM EITHER EXPRESS OR IMPLIED WARRANTIES.
ANY INFORMATION, ARTICLES, NEWS, PRICE ANALYSIS, RESEARCHES PROVIDED IN OUR WEBSITE ARE GIVEN FOR REFERENCE ONLY AND DOES NOT ESTABLISH ANY MARKET, INVESTMENT OR ANY OTHER ADVICES. WE ARE NOT LIABLE OR RESPONSIBLE FOR ANY LOSSES BASED ON THIS INFORMATION.
EITHER WE, OUR SERVICE PROVIDERS OR OUR LICENSORS IN NO CASE WILL BE RESPONSIBLE OR LIABLE FOR ANY DAMAGES WHETHER EXPLICIT, IMPLICIT, DIRECT, INDIRECT OR CONSEQUENTIAL, INCLUDING INABILITY OF USE, LOST PROFITS OR LOSS OF INFORMATION ARISING WITH THE USE OF OUR SERVICES OR THESE TERMS OF USE.
IN NO CASE OUR LIABILITY FOR ANY DAMAGE PRETENSION SURPASSES THE RATE YOU PAID FOR THE CLAIMED TRANSACTION.
YOU ARE SOLELY RESPONSIBLE FOR ANY LOSSES ARISING FROM YOUR FAILURE TO COMPLY WITH THESE LEGAL TERMS, YOU WILL HAVE NO CLAIMS AGAINST US AND COVER ALL COSTS INCLUDING LEGAL ONES RESULTING FROM IT.
WE DO NOT CLAIM THAT OUR SERVICES ARE APPROPRIATE FOR USE IN ALL JURISDICTIONS.
TRANSACTIONS INVOLVING CRYPTOCURRENCIES ARE HIGHLY RISKY AND VOLATILE. WE ARE NOT LIABLE FOR ANY OF THOSE RISKS OR LOSSES OCCURRED DUE TO THEM.

If you do not understand any point of or have any concerns regarding to these Terms, please contact us for explanation.
Our contacts: support@cryptomerchantbank.co

Privacy and Cookie Policy

1. General

We highly appreciate your trust and understand how important it is to provide the confidentiality of your personal information. Our Privacy and Cookie policy is not an independent document and is a part of our Legal Terms.

Our Privacy and Cookie policy determines how we collect, use, guard, share or disclose your information when you use our Services and Website in order to provide the fraudulent protection, improvement and personalization of our Services and maintenance of AML and KYC policy.

You confirm that you have read, understood, and accept our Privacy and Cookie policy by signing up to use an account through our Website. You also confirm that you permit to use and/or disclose provided by you information in cases specified below in these Privacy and Cookie Policy terms.

We may revise at our discretion these Privacy and Cookie policy terms. We have the right to place or not to place notices on our Website when the changes are made.

We encourage you to revise our Privacy and Cookie policy as well as our Legal Terms periodically.

Your further use of our Services or Website after the changes come into force confirms your indisputable admission of these changes.

2. Information collecting

We collect the following information provided by you:

your first and second name, mobile phone number, email and mailing address, date of birth, documents that prove your identity and address (this information is provided when you create, verify and login Your Account);

information of any transaction fulfilled via our Services;

the email addresses and mobile phone numbers of users joined to our Service as your referrals;

requests, calls, emails or other correspondence with our agents;

cookies and other tracking technologies information.

3. Cookies and other tracking technologies Information

Cookie is a small data file that doesn’t contain any Personal information and is used to identify and recognise you as our customer. Cookies are used to safeguard and simplify your navigation while using our Website without need of re-entering your login and password multiple times visiting several pages of our Website.

We also use cookies and other tracking technologies for analytical purposes: we count the visitors number, estimate the visitors preferences and timing of activity on our Website, analyze the visitors targeting information (we record the websites URL’s before and after our Website linking). All these measures help us to personalize our content and advertising, estimate and increase the effectiveness of our Services and secure your account against fraudulent and other suspicious activities.

4. Information about you from third parties

We compare and verify the information provided by you with third-parties service providers or any other public records to restrict the fraudulent, other suspicious activities and money laundering.

In case we are not able to verify your information we may ask you to provide an additional one like recent utility bill or other information that helps to identify You.

5. Where we store your information

All information that you provide us with including your personal information is securely stored on our reliable servers. However, you should be aware that the data transmission over the Internet can not be fully secured and we are not liable for the transfer process of your information to our Website. As soon as we receive your information we follow all sensible procedural and physical safeguard measures to keep it safe against damage, loss, abuse or unauthorized access and change.

6. Information security

We provide all necessary security measures to keep your account information safe however, you are responsible for protection of authorization information of your account. You should never share your password or any additional tools which we provided to you that enables your access to certain parts of our Website with third parties, otherwise your account may be compromised. Our agents or agents of our third-parties service providers will never ask you to provide your password or any additional tools information. if You receive any request concerning disclosure of your password or any additional tools information you should ignore it and immediately inform us about such request. If you are aware that your password has been compromised you should change it right away and contact us.

7. Information Sharing

The disclosure or sharing of your information with third parties is allowed only for the cases:

you permitted us to do so;

to our third-parties service providers to carry out some of our Services. These third parties service providers are bounded by law or by contract for using the information only in cases for which it is provided and can not be used for secondary purposes;

we de-personalized the information and it can not be applied to identify you (for research, marketing, advertising or analogous purposes);

for realization of AML and KYC Policy

with regulated institutions under the applicable laws;

for anti-fraudulent protection and minimization of financial risks.

8. Do Not Track (“DNT”)

Currently our Service does not react on the “DNT” notification and operates as has been described in these Privacy and Cookie Policy Terms.

9. Questions about our Privacy and Cookie Policy Terms

If you do not understand any point of or have any concerns regarding to these Privacy and Cookie Policy terms, please contact us for explanation.

Concealing the income of criminal deeds to appear as legitimate earning is considered to be money laundering. Financial services companies are usually targeted by criminals who attempt to launder criminal income via financial company with company’s awareness.

Pursuant to high volumes of funds being laundered in the UK and other countries worldwide, there has been prepared legislation and rules to help in averting money laundering and combating terrorism.
AML/CTF guidelines for UK companies were arranged to comply with these rules and regulations and define charges and fines for not being able to comply.

Meanwhile CMB are currently unregulated and is not subject to AML/CTF obligations in the UK, the senior management have worked on introduction of processes that comply with UK AML legislation.
This act represents CMB desire to prevent money laundering and not allow to hide criminal proceeds in any way using our service.

Anti-Money Laundering Policy

AML Policy of CMB is intended to avert money laundering by complying with UK AML legislation obligations including the need to have appropriate systems and controls in place to reduce company’s risk to be used to facilitate financial crime. This AML Policy establishes the minimum standards which must be complied with and includes:

The appointment of a Money Laundering Reporting Officer (MLRO) who has sufficient level of labor experience and independence and who has responsibility for monitoring of compliance with relevant legislation, regulations, rules and industry guidance;

Establishing and maintaining a Risk Based Approach (RBA) towards assessing and managing the money laundering and terrorist financing risks to the company;

Framing and adhering a Risk Based Approach (RBA) towards evaluating and controlling the money laundering and terrorist financing risks;